Terms and conditions

1. SERVICE PROVIDER DETAILS

In accordance with Law 34/2002 (LSSI-CE, the Spanish Information Society Services Act), the online reservation service is operated by:

• Company name: SERMAN ILLES S.L.
• NIF: B57781452
• Registered address: Carrer de Joan Crespí, 13C, 07014 Palma de Mallorca, Illes Balears
• Contact: info@serman.properties

2. PURPOSE OF THE SERVICE

This agreement governs the ‘Online Reservation’ or ‘Offer Guarantee’ service provided through the website. The service allows the USER to formalise a binding purchase offer on a property by placing a hold on funds as a financial guarantee.

3. NATURE OF THE PAYMENT (PRE-AUTHORISATION)

The sum of €1,000 (ONE THOUSAND EUROS) processed through the payment gateway is, in technical and legal terms, a BANK PRE-AUTHORISATION OR TEMPORARY HOLD.

• It is not an immediate charge: This amount is NOT taken from the user’s account at the time; it simply remains ‘blocked’ or held on their card as a Guarantee of Solvency and of the Seriousness of the Offer.
• Purpose: To demonstrate genuine interest in order to open negotiations and to withdraw the property from active marketing for the negotiation period (maximum 72 hours).

4. CONTRACTING PROCEDURE

4.1. Submitting the Offer On completing the payment process (pre-authorisation), the USER makes a firm offer.

• If the price offered matches the published price, it will be deemed a firm reservation.
• If the price is lower, SERMAN PROPERTIES will pass the proposal on to the Owner as a counter-offer subject to negotiation.

4.2. Identification (Prevention of Money Laundering) In accordance with Spanish Law 10/2010, the validity of the offer is conditional upon identification of the payer. The USER must send a copy of their valid DNI / NIE or Passport within 24 hours of the transaction. SERMAN PROPERTIES reserves the right to cancel the transaction and release the funds if this documentation is not received.

5. OUTCOME OF THE RESERVATION AND RELEASE OF FUNDS

The guarantee is managed automatically. The following scenarios apply:

1. A) ACCEPTANCE AND SUCCESS (Cost €0) If the Owner accepts the offer, SERMAN PROPERTIES will notify the USER. The parties will have a maximum period of 24 hours to sign the Deposit Contract (contrato de arras).

• Release: Once the deposit contract has been signed and the USER has provided proof of the corresponding bank transfer (generally 10%), SERMAN PROPERTIES will immediately CANCEL AND RELEASE the hold of €1,000 on their card.
• The user will incur no charge on their card for this service.

1. B) REJECTION OR PRIOR WITHDRAWAL (Cost €0)

• If the Owner does NOT accept the offer, the pre-authorisation will be cancelled immediately and the bank will release the funds.
• If the USER decides to withdraw their offer before receiving the Owner’s acceptance, the hold will be cancelled in full at no cost whatsoever.

1. C) PENALTY FOR BREACH (€1,000 charged) If the Owner ACCEPTS the offer (price and terms) and the USER decides NOT to sign the deposit contract or make the corresponding transfer without just cause (e.g. a demonstrable mortgage refusal), a penalty will apply.

• In this case, SERMAN PROPERTIES will carry out the CAPTURE OF FUNDS (Final charge) of the €1,000 held, by way of compensation for the administrative costs incurred and the loss caused by keeping the property off the market.

6. JURISDICTION

For any dispute arising from the interpretation or performance of these terms, the parties submit to the jurisdiction of the Courts and Tribunals of Palma de Mallorca.